FTX Affiliated Crypto Hedge Fund LedgerPrime Restarts Under New Name MNNC Group: Bloomberg
Crypto hedge fund LedgerPrime, once linked to the bankrupt FTX crypto exchange, has relaunched under the name MNNC Group according to a February 29 Bloomberg report.
As reported by Bloomberg, the rebooted crypto hedge fund has raised an investment amount in the “mid-eight-figures.”
LedgerPrime was forced to cease operations after FTX’s collapse in November 2022. Its parent company, Ledger Holdings, was acquired by FTX US in 2021 while the hedge fund transformed into a family office for Alameda Research in 2022.
“What’s helping us is obviously our track record,” Ayesha Kiani, MNNC Group’s chief operating officer told Bloomberg, noting that the company was not “at fault” when FTX collapsed given it “returned outside capitals in September 2022.”
“With a commitment to rapid innovation and a technology first and data-centric approach, MNNC is a global leader in generating sustained and superior risk-adjusted returns in one of the fastest growing assets in the world,” a statement on MNNC Group’s website reads.
MNNC Group’s revival follows the launch of Split Capital, a token-based hedge fund founded by former LedgerPrime employees including Zaheer Ebtikar, Michael Churchouse, and Nai Boonkongkird.
It's been a long time coming but I'm thrilled to announce the official launch of Split Capital, a liquid digital assets fund.
Split Capital, as a concept, has been in my mind for years now and it's been a dream to finally see it come to fruition.https://t.co/cItdgFl3Ao
— Zaheer (@SplitCapital) January 19, 2024
“For those of you that know, the past year has been an incredible rollercoaster of emotions, both personally and professionally, with the collapse of FTX and rebuilding the pieces of our fund,” Ebtikar wrote in a January 2024 post on
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